mack
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Post by mack on Sept 24, 2015 14:59:39 GMT
Why be surprised? A few weeks ago everyone was complaining about the lack of ability to invest so in all likelihood most have already put in all their funds as there seemed little patience to buy over several months. Prefund estimates are a waste of time as there is a presumption that every investor has that same amount to put into each loan. This will not be the case. There will not be £2million each time. Surprised for a number of reasons: * the pre-fund pot for this loan was considerably smaller than we have seen before * based on previous pot sizes it might have been expected that this would fill before launch therefore encouraging more pre-funding * I had expected a number of people who had bought the earlier loans to pre-fund this one and then sell some of their existing holding to spread their investment * But I was particularly surprised at the pre-fund pot for PBL61 being considerably smaller than for PBL60 even though it is a smaller loan with a lower LTV But it was only a little surprise (apart from the last point) and your counter-points are valid. It will be interesting to see what the pre-fund for the Hackney loans will be. I think PBL60 saying it is portfolio of 24 flats sounds like it has more security so more money was channelled there. Even though its the same project and same borrower so doesn't matter which PBL you put the money into. I just put it into one as its the same loan in essence.
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adrianc
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Post by adrianc on Sept 24, 2015 20:44:32 GMT
I think the market is a little bit sated at the moment. Thats 10.5mil net in 2 weeks. Yep, this is going to be it. £50m of extant loans, of which over £10m is the last fortnight...? No wonder people are leaning back in their chairs and belching, gently replete. And how much has repaid in that time? <£2.5m this month, then nothing since July - but there was another £2.4m of loans launched since then, too, even before the pre-fund cork went flying across the room, leaving the loan book basically static. The loan book has grown by 25% in two weeks. Not a great surprise there's £2.3m of green right now, really. Although, having said that, if you ignore ~£2.1m in 58-61, it's probably more of a surprise there's not more of the older stuff kicking around.
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mikes1531
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Post by mikes1531 on Sept 24, 2015 21:05:30 GMT
I think PBL60 saying it is portfolio of 24 flats sounds like it has more security so more money was channelled there. Even though its the same project and same borrower so doesn't matter which PBL you put the money into. I just put it into one as its the same loan in essence. When I read the particulars I concluded that the two loans were different in terms of their exit plans, and therefore the exit timing. PBL60 is secured on the 24 flats and the exit plan is to let the flats and arrange mainstream BTL finance. Since that should cost the borrower less than the SS loan, they have a significant incentive to arrange that ASAP. The particulars suggest exit will be "within six months". PBL61, OTOH, seems to be development finance and, depending on how long it takes to get the Phase II flats finished and ready for occupancy, I'd expect that loan to last longer before any refinancing. So I'd suggest choosing where to put one's investment based on which of those scenarios fits investors' goals better.
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jonah
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Post by jonah on Sept 24, 2015 21:24:15 GMT
I think the market is a little bit sated at the moment. Thats 10.5mil net in 2 weeks. Yep, this is going to be it. £50m of extant loans, of which over £10m is the last fortnight...? No wonder people are leaning back in their chairs and belching, gently replete. And how much has repaid in that time? <£2.5m this month, then nothing since July - but there was another £2.4m of loans launched since then, too, even before the pre-fund cork went flying across the room, leaving the loan book basically static. The loan book has grown by 25% in two weeks. Not a great surprise there's £2.3m of green right now, really. Although, having said that, if you ignore ~£2.1m in 58-61, it's probably more of a surprise there's not more of the older stuff kicking around. Another loan or two being repaid wouldn't hurt... And don't forget there's almost 3m more in the pipeline. Obviously if there is a large wait for the next batch then that green could vanish quite quickly. Given the size of the interest payments due next week for example, that would put a sizeable dint in it.
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adrianc
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Post by adrianc on Sept 24, 2015 21:35:49 GMT
Yes, interest will help. 1%/mo of £50m loan book is "only" £500k, though.
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bjorn
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Post by bjorn on Sept 29, 2015 15:22:23 GMT
PBL61 all gone and has turned from green to white.
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sam i am
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Post by sam i am on Sept 29, 2015 15:38:32 GMT
So PBL61 took 5 days and a helping hand with some cashback. PBL60 still has a long way to go. Just goes to show how quickly things can change. A few weeks ago we were all complaining about a lack of lending opportunities.
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shimself
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Post by shimself on Sept 29, 2015 16:31:47 GMT
I'm waiting for the new structure
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gt94sss2
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Post by gt94sss2 on Oct 1, 2015 12:26:59 GMT
I note I have been paid interest on PBL 60 and 61 today - so presume they have now gone into drawdown, even if that's not reflected on the loans page yet..
Cash back to follow soon?
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Oct 1, 2015 12:41:10 GMT
I note I have been paid interest on PBL 60 and 61 today - so presume they have now gone into drawdown, even if that's not reflected on the loans page yet.. Cash back to follow soon? They have started paying interest on all loans at EOM whether drawdown or not. They have to pay it anyway even if it doesnt drawdown so not really any point holding it back. Probably better for cashflow as no lump sums eg PBL19 had to pay 6 month interest at drawdown due to delays
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Jun 1, 2016 15:48:42 GMT
PBL - Tranche increase to PBL060
Dear C_D
We are pleased to confirm that the above tranche will be going live on Thursday (02/06/2016).
All investors should ensure their pre-funding levels for this loan is accurate.
If you have any queries, please feel free to contact us.
Kind regards,
The Saving Stream Team
N.B. We reserve the right to cancel or extend this go live date if required.
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Liz
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Post by Liz on Jun 1, 2016 18:09:44 GMT
PBL - Tranche increase to PBL060 Dear C_D We are pleased to confirm that the above tranche will be going live on Thursday (02/06/2016). All investors should ensure their pre-funding levels for this loan is accurate. If you have any queries, please feel free to contact us. Kind regards, The Saving Stream Team N.B. We reserve the right to cancel or extend this go live date if required. Help me! How much extra are they releasing? And new LTV. I have 4 kids up and my head hurts. Oh and it's half term and raining. Thanks 
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jun 1, 2016 18:17:37 GMT
PBL - Tranche increase to PBL060 Dear C_D We are pleased to confirm that the above tranche will be going live on Thursday (02/06/2016). All investors should ensure their pre-funding levels for this loan is accurate. If you have any queries, please feel free to contact us. Kind regards, The Saving Stream Team N.B. We reserve the right to cancel or extend this go live date if required. Help me! How much extra are they releasing? And new LTV. I have 4 kids up and my head hurts. Oh and it's half term and raining. Thanks £465k v a valuation uplift of £820k. It will drop PBL60 LTV 1% to 69%
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Post by doorway on Jun 2, 2016 9:13:36 GMT
? How do I actually invest in these loans, they don't appear on the pipeline page ?
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SteveT
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Post by SteveT on Jun 2, 2016 9:15:48 GMT
? How do I actually invest in these loans, they don't appear on the pipeline page ? Those are the original loan numbers. The new tranche is in the Pipeline loans list (without a separate PBL number, called "PBL - Tranche Increase to PBL060")
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